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Any good realtors in Seattle?
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Coach
Bain & Company Anyone is going though a Consultant application with Bain London as experienced hires? With the SOVA test deadline 3rd Oct, and was told to hear about outcomes this week. 1st round of interviews are on 14th Oct.
Still no news on my side. Anyone has heard back? Bain & Company
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Coach
That sounds like smart idea.
One thing I wanna advice on is, a but counterintuitive from your smart strategy, to invest in “living”. You’re young and making really good money, use it to make life easy and enjoyable. Be responsible but don’t overkill it with savings or trying to always be “smart”
Second this, enjoy what you earn responsibly or you’ll be miserable trying to overkill it by reaching some ridiculous goal.
Mentor
Doubling down on BCG1’s comment-
1) Would recommend thinking about spending to enjoy life reasonably now vs 20-30 years from now.
2) Investing in own education is the best $ investment you can make in your 20s imo- even if you find BCG to be everything you wanted it to be and more, prioritize learning in your 20s over making money- if BCG pays for your education, even better.
3) BCG policy does not allow investing in most* individual stocks, instead put some of that money towards your 401k.
4) Time outside of work for you is going to be limited very soon, so please don’t hesitate to spend $$ to visit family, make your loved ones feel that you care about them, etc. Many personal relationships get hurt because a lot of us care way too much about $$, and I guarantee you’ll regret it in the future if you do that too.
Extremely insightful and applicable. Thank you for this
Subject Expert
1) bcg policy may not allow you to buy public equity, 2) you’re not gonna have time to create a strategy and identify sound securities to buy, 3) impossible to advise on your finances without understanding total debt, debt schedule, personal monthly spend, milestone goals, etc. General direction is minimize taxes by contributing to 401k, minimize discretionary spend, minimize new debt.
Echo the point on no bonds, bonds are low risk low yield and should be invested in to protect from volatility, as a fresh grad you have plenty of time in the market to weather any storms so I’d go 100% equities
Re stocks. Buy low cost index funds in your BCG 401k. If you have additional $ for taxable investing after maximizing your 401k buy more of the same. Don’t check your balance and don’t worry when the market dips or get excited when it goes up like 🚀
Don’t compare yourself to others.
Don’t be too cheap in your 20s. One of the biggest regrets my wife and I have was not traveling a lot more in our 20s before we had kids.
Don’t forget that it may be smart in some scenarios to bet on yourself and your future earnings. Not all debt is created equal
Minimize living expense until you afford a home, avoid making big mistates. 100% s&p 500 on retirement funds. No bonds please, read Swensen book and you’ll know why.
Invest in S&P 500 and Nasdaq. As others have pointed out, bonds are pointless for someone in your situation.
Also, never try to time the market. Just dollar cost average in (set aside automatic investments once/twice a month). Invest and forget.
Contribute all you can into Roth instead of traditional - IRA and 401k both.
Do not spend a ton to buy your first house in a top school district with high taxes. Invest in a rentable house instead. When your kids are ready for school is when you buy the big house in a nice school district and convert your previous home(s) into rentals.
Don’t throw away money on expensive toys that’ll depreciate the moment you drive them off the lot.
Live a little and enjoy life. Invest in lifetime relationships!
Good luck!